Oil prices increased slightly due to a weakening dollar, and traders are closely watching the upcoming OPEC+ meeting for guidance on production levels.
Brent crude is currently trading at around $72 per barrel, following a 3% decline last week, while West Texas Intermediate is above $68. The dollar experienced its first weekly drop since September, making commodities priced in the currency more attractive.
Furthermore, the OPEC+ meeting has been postponed by four days, leading to speculation in the market about future production decisions.